Fjarde AP Fonden Fourth Swedish National Pension Fund Decreases Position in Edison International (EIX)
Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its holdings in shares of Edison International (NYSE:EIX) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 136,843 shares of the utilities provider’s stock after selling 3,277 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Edison International were worth $9,262,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its position in Edison International by 8.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 97,923 shares of the utilities provider’s stock valued at $6,627,000 after buying an additional 7,572 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Edison International by 37.5% during the third quarter. Bank of New York Mellon Corp now owns 3,045,837 shares of the utilities provider’s stock worth $206,141,000 after purchasing an additional 830,137 shares during the last quarter. AXA lifted its position in shares of Edison International by 783.4% during the third quarter. AXA now owns 278,980 shares of the utilities provider’s stock worth $18,881,000 after purchasing an additional 247,400 shares during the last quarter. Stelac Advisory Services LLC bought a new position in shares of Edison International during the third quarter worth about $129,000. Finally, Norinchukin Bank The lifted its position in shares of Edison International by 13.5% during the third quarter. Norinchukin Bank The now owns 41,906 shares of the utilities provider’s stock worth $2,836,000 after purchasing an additional 4,992 shares during the last quarter. 81.93% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on the stock. Citigroup set a $72.00 price target on shares of Edison International and gave the stock a “hold” rating in a research report on Tuesday, October 9th. Zacks Investment Research raised shares of Edison International from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research report on Wednesday, October 10th. Bank of America cut shares of Edison International from a “buy” rating to a “neutral” rating and increased their price target for the stock from $72.00 to $75.00 in a research report on Thursday, October 11th. Argus increased their price target on shares of Edison International to $80.00 and gave the stock a “buy” rating in a research report on Thursday, October 11th. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Edison International from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $71.54.
Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.25. The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $3.47 billion. Edison International had a net margin of 4.47% and a return on equity of 10.61%. Edison International’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.43 earnings per share. Sell-side analysts predict that Edison International will post 4.14 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Friday, September 28th were paid a dividend of $0.605 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $2.42 annualized dividend and a yield of 4.59%. Edison International’s dividend payout ratio (DPR) is 53.78%.
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Edison International Profile
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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